05
Jul
By support
Mortgage, ,

Top Uses Of A HELOC

Homeowners who have equity built up in their homes can tap into that equity using a home equity line of credit, or HELOC. This financial tool can be a great way to accomplish a number of financial goals. Here are four excellent uses of a HELOC for homeowners to consider. Consolidating Costly Debts Credit card debt and other types of consumer loans are costly, unless a debtor is lucky enough to have a no-interest card. Borrowers can consolidate that debt into a HELOC, which is much more affordable because it is a secured debt. This advantage only works if the…
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03
Jul
By support
Mortgage, ,

Seller-Paid Closing Costs In A Seller’s Market? Yes, It’s Still Possible

For first-time home buyers, closing costs are a major hurdle for home ownership. Coming up with a down payment and several thousand dollars for closing costs can be hard without home equity to tap. To help, buyers often ask sellers to cover all or some of these costs. In markets favoring buyers, this is a common habit, but when the market switches to favoring sellers it becomes harder. Sellers who know they may get multiple offers are less likely to say "yes" to this request. Yet even when the market favors sellers, buyers can still ask for this help. It…
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27
Jun
By support
Mortgage, ,

Understanding the Factors That Impact Your Credit Score

Most consumers believe if they pay their bills on time, they need not worry about their credit score. Oftentimes, it is a rude awakening when they apply for a mortgage loan, car loan, or any revolving credit to learn they are not going to get the lowest rates available due to their credit score. This is because paying bills on time only accounts for 35 percent of your credit score. The remaining 65 percent is spread out among other factors that impact your credit score. Credit Usage and Impact on Score Nearly one-third, 30 percent, of your credit score is…
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21
Jun
By support
Home Mortgage, ,

3 Programs That Allow You To Buy A Home With No Money Down In 2018

Home buyers are typically advised to put at least 20% down for a mortgage. Coming up with that amount can seem almost impossible if you have little to no money left over after paying bills each month. Fortunately, if you want to buy a house but are worried about coming up with the 20 percent down needed for a downpayment, you still have plenty of options. There are still plenty of programs that allow you to buy a home with a low down payment or even no money down in 2018.  Here are some of the best programs that designed…
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06
Jun
By support
Mortgage, ,

What You Need To Know About Short Sales

On the surface, a short sale seems like the perfect deal. However, before you take the plunge, you need to understand how this type of home purchase works. What Is a Short Sale? A short sale is a home sale in which the homeowner is selling the home for less than he or she currently owes on the mortgage. In most cases, this means that the buyer is paying less for the home than it's worth, which leads to instant equity. Short sales allow homeowners to get out from under mortgages without damaging their credit as much as a foreclosure.…
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